Goldman Sachs BDC Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation
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Item 1.01 — Entry into a Material Definitive Agreement.
On June 24, 2025, Goldman Sachs BDC, Inc. (the “Company”) entered into a twelfth amendment to its senior secured revolving credit agreement (the “Twelfth Amendment”), dated as of September 19, 2013 (as amended, supplemented or otherwise modified from time to time, including by the Twelfth Amendment, the “Truist Revolving Credit Facility”), by and among the Company, as borrower, the subsidiary guarantors party thereto (solely for purposes of Section 5.10), Truist Bank, as administrative agent and, solely with respect to Section 5.11 thereof, as collateral agent, and the lenders from time to time party thereto.
The Twelfth Amendment, among other things, (i) extends the final maturity date from October 18, 2028 to June 24, 2030 for the Extending Lenders only, (ii) extends the commitment termination date from October 18, 2027 to June 22, 2029 for the Extending Lenders only and (iii) reduces the applicable margin, for the Extending Lenders only, (a) with respect to any ABR Loan, to 0.90% per annum, and (b) with respect to any Term Benchmark Loan or Daily Simple RFR Loan, to 1.90% per annum, in each case, subject to an additional step-down in applicable margin, for the Extending Lenders only, if (X) the Company has long-term corporate debt ratings from any two of Moody’s, S&P or Fitch of at least Baa3 in the case of Moody’s, BBB- in the case of S&P or BBB- in the case of Fitch, or (Y) the Gross Borrowing Base is greater than or equal to the product of 1.60 and the Combined Debt Amount.
The foregoing description is only a summary of certain provisions of the Twelfth Amendment and is qualified in its entirety by reference to a copy of the Twelfth Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein. Capitalized terms used but not otherwise defined herein have the meanings ascribed to such terms in the Truist Revolving Credit Facility.
Item 2.03 — Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.
Item 9.01 — Financial Statements and Exhibits.
(d) Exhibits:
| Exhibit Number |
Description | |
| 10.1* | Twelfth Amendment to the Senior Secured Revolving Credit Agreement, dated as of June 24, 2025, by and among Goldman Sachs BDC, Inc., as Borrower, the lenders party thereto, Truist Bank, as Administrative Agent and as Collateral Agent, and the other parties thereto. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
| * | Certain schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted schedule to the SEC upon its request. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GOLDMAN SACHS BDC, INC. (Registrant) | ||||||
| Date: June 26, 2025 | By: | /s/ Alex Chi | ||||
| Name: Alex Chi | ||||||
| Title: Co-Chief Executive Officer and Co-President | ||||||
| By: | /s/ David Miller | |||||
| Name: David Miller | ||||||
| Title: Co-Chief Executive Officer and Co-President | ||||||